Although many are surprised, the colleagues at the Economy Institute and the Croatian National Bank and I expected a GDP growth rate over six per cent due to the growth of industrial output, investments, tourism, commerce and other branches, Suker said at the presentation of an Economy Institute study on indicators of the Croatian economy's competitiveness.
Asked by the press which growth rate he expected for this year, Suker did not give a number but said that his ministry would continue to make conservative projections.
Earlier today the Central Bureau of Statistics released figures
according to which Croatia's Gross Domestic Product grew in real terms by a
record-high seven percent in this year's first three months in relation to the
same period in 2006.
The growth is one percentage point higher than in
the last year's first quarter when it amounted to six percent. Last year GDP
growth amounted to 4.8 percent, the Bureau said.
The 2007 GDP growth
rate was primarily generated by an increase in personal spending and growing
fixed capital investment.
Government spending went up 2.8 per cent, which is substantially higher
than in the first three months of 2006 when it amounted to one
percent.
Exports of goods and services rose 3 percent compared to
2006, while imports amounted to 3.7 percent, according to the Bureau.
At the presentation it was also said that in measuring its competitiveness Croatia should concentrate on the World Economic Forum's Global Competitiveness Index and the European Bank for Reconstruction and Development's ranking of progress in the transition countries as they correspond the most to objective macroeconomic indicators and provide a good picture of Croatia's economic advantages and weaknesses.